Walgreens, Rite Aid merger abandoned
Walgreens and Rite Aid will no longer be merging according to a statement issued Thursday morning. But Walgreens is still planning to buy a large number of Rite Aid stores.
Posted — UpdatedWalgreens and Rite Aid will no longer be merging because of difficulty gaining regulatory approval, according to a statement issued Thursday morning.
“The decision to terminate the merger agreement follows feedback received from the Federal Trade Commission that led the company to believe that the parties would not have obtained FTC clearance to consummate the merger,” according to Rite Aid.
But Walgreens is planning to buy 2,186 Rite Aid stores after a proposed new deal closes, which could be within the next 6 months.
The majority of the stores included in the purchase are located in the Northeast, mid-Atlantic and Southeast.
Of course, these numbers are subject to change as the purchase details are worked out, but for now, it appears that most Rite Aid stores in North Carolina will not continue to function as Rite Aid stores in the future.
As more information about what will happen to the stores that Walgreens is buying is released, we'll let you know.
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